$A.$ Write a macro function $to$ calculate the Present Value for a series $of$ cash flows. Test the

macro function with your own numbers.

$B.$ Write a macro function $to$ estimate the cost $of$ equity using the:

$(i)$ Fama$-$French $3-$Factor Model

$Ri=rf+Bmkt(RMRF)+$ Bsize $(SMB)+$ Bvalue $(HML)$

where:

$rf=$ the rate $of$ return $on$ risk$-$free $securities(typically$ Treasuries$)$

$Bmkt=$ market beta

Bsize $=$ Size beta

Bvalue $=$ Value beta

$RMRF=$ return $on$ a market weighted equity index $in$ excess $of$ the one$-$month $T-$bill rate.